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Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2016

Derivative [Line Items]

Schedule of the Fair Value of Outstanding Derivative Contracts Recorded as Assets in the Accompanying Consolidated Balance Sheet

The fair value of outstanding derivative contracts recorded as assets in the accompanying Consolidated Balance Sheet as of December 31, 2015 was as follows:

	ASSET DERIVATIVES
(in millions)	Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments
Foreign exchange contracts	Other current assets	$	0.3
Total derivatives designated as hedging instruments		$	0.3

	ASSET DERIVATIVES
(in millions)	Balance Sheet Location	Fair Value
Derivatives NOT designated as hedging instruments
Foreign exchange contracts	Other current assets	$	—
Total derivatives NOT designated as hedging instruments		$	—
Total asset derivatives		$	0.3

The fair value of outstanding derivative contracts recorded as assets in the accompanying Consolidated Balance Sheet as of December 31, 2016 was as follows:

	ASSET DERIVATIVES
(in millions)	Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments
Foreign exchange contracts	Other current assets	$	0.1
Commodity contracts	Other current assets	0.2
Total derivatives designated as hedging instruments		$	0.3

	ASSET DERIVATIVES
(in millions)	Balance Sheet Location	Fair Value
Derivatives NOT designated as hedging instruments
Foreign exchange contracts	Other current assets	$	0.1
Total derivatives NOT designated as hedging instruments		$	0.1
Total asset derivatives		$	0.4

Schedule of the Fair Value of Outstanding Derivative Contracts Recorded as Liabilities in the Accompanying Consolidated Balance Sheet

The fair value of outstanding derivative contracts recorded as liabilities in the accompanying Consolidated Balance Sheet as of December 31, 2015 was as follows:

	LIABILITY DERIVATIVES
(in millions)	Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments
Foreign exchange contracts	Accounts payable and accrued expenses	$	0.2
Commodity contracts	Accounts payable and accrued expenses	0.7
Interest rate swap contracts: Float-to-fixed	Accounts payable and accrued expenses	1.7
Foreign exchange contracts	Other non-current liabilities	0.1
Interest rate swap contracts: Float-to-fixed	Other non-current liabilities	0.6
Total derivatives designated as hedging instruments		$	3.3

	LIABILITY DERIVATIVES
(in millions)	Balance Sheet Location	Fair Value
Derivatives NOT designated as hedging instruments
Foreign exchange contracts	Accounts payable and accrued expenses	$	0.9
Total derivatives NOT designated as hedging instruments		$	0.9
Total liability derivatives		$	4.2

The fair value of outstanding derivative contracts recorded as liabilities in the accompanying Consolidated Balance Sheet as of December 31, 2016 was as follows:

	LIABILITY DERIVATIVES
(in millions)	Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments
Foreign exchange contracts	Accounts payable and accrued expenses	$	0.9
Total derivatives designated as hedging instruments		$	0.9

	LIABILITY DERIVATIVES
(in millions)	Balance Sheet Location	Fair Value
Derivatives NOT designated as hedging instruments
Foreign exchange contracts	Accounts payable and accrued expenses	$	0.1
Total derivatives NOT designated as hedging instruments		$	0.1
Total liability derivatives		$	1.0

Designated as Hedging Instrument

Derivative [Line Items]

Schedule of Outstanding Commodity and Currency Forward Contracts

As of December 31, 2015, the Company had the following outstanding commodity and currency forward contracts that were entered into as hedges of forecasted transactions:

Designated Hedging Instruments
Commodity		Units Hedged		Unit		Type
Natural Gas		175,617		MMBtu		Cash Flow
Steel		4,811		Short Tons		Cash Flow

Designated Hedging Instruments
Currency		Units Hedged		Type
South Korean Won		1,533,257,930		Cash Flow
Singapore Dollar		1,800,000		Cash Flow
Japanese Yen		245,915,700		Cash Flow

As of December 31, 2016, the Company had the following outstanding commodity swap and currency forward contracts that were entered into as hedges of forecasted transactions:

Designated Hedging Instruments
Commodity		Units Hedged		Unit		Type
Natural Gas		26,807		MMBtu		Cash Flow
Steel		3,190		Short Tons		Cash Flow

Designated Hedging Instruments
Currency		Units Hedged			Type
Australian Dollar		611,143			Cash Flow
European Euro		9,834,120			Cash Flow
South Korean Won		218,408,100			Cash Flow
Singapore Dollar		900,000			Cash Flow
United States Dollar		2,311,697			Cash Flow
Japanese Yen		65,502,800			Cash Flow

Not Designated as Hedging Instrument

Derivative [Line Items]

Schedule of Outstanding Commodity and Currency Forward Contracts

For derivative instruments that are not designated as hedging instruments under ASC Topic 815-10, the gains or losses on the derivatives are recognized in current earnings within other (expense) income, net. As of December 31, 2015, the Company had the following outstanding currency forward contracts that were not designated as hedging instruments:

Non Designated Hedging Instruments
Currency		Units Hedged		Recognized Location		Purpose
European Euro		20,490,320		Other (expense) income, net		Accounts Payable and Receivable Settlement
United States Dollar		17,321,106		Other (expense) income, net		Accounts Payable and Receivable Settlement
Japanese Yen		70,518,463		Other (expense) income, net		Accounts Payable and Receivable Settlement
Singapore Dollar		500,000		Other (expense) income, net		Accounts Payable and Receivable Settlement
British Pound Sterling		4,840,238		Other (expense) income, net		Accounts Payable and Receivable Settlement

As of December 31, 2016, the Company had the following outstanding currency forward contracts that were not designated as hedging instruments:

Non Designated Hedging Instruments
Currency		Units Hedged			Recognized Location		Purpose
European Euro		10,502,111			Other (expense) income, net		Accounts payable and receivable settlement
United States Dollar		15,318,000			Other (expense) income, net		Accounts payable and receivable settlement

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Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5579245-113959

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